Real Estate Owned Appraisal in King County
Homes that have returned to the financial institution's possession and houses in foreclosure present unique appraisal difficulties.
For a house in foreclosure, you should recognize the difference between fair market and "quick disposition" price to know your potential charge-off liability. At Crest Appraisal Services, we have the knowledge in both producing snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your urgency.
You need a company who has the experience to work with the special dynamics of a foreclosure appraisal. Contact Crest Appraisal Services for a company you can trust.
Unique challenges may be present when dealing with owners of properties in foreclosure. They could be unwilling to allow an inspection of the property. Sometimes the subjects have been vandalized, unfortunately by the former residents themselves. Or, it's common to find a house at least abandoned or the home neglected for extended periods of time.
For a property that has gone back to Real Estate Owned, you probably will be seeking a fast disposition . But you may want to know and examine three values: as-is, as repaired, and "quick sale." These correspond to the value of the home without any repairs performed, with the work due to make the home marketable at full market value appropriate with the other properties in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your urgency and the specific situation of a bank owned property, in addition to the unique information you will need -- competing listings, neighborhood trends, and the like. You can count on Crest Appraisal Services to handle the task of your bank owned property with expertise and professionalism. Contact us today.